Requirements For Registering A Company In Nigeria
In Nigeria, the Corporate Affairs Commission (CAC) is in charge of company registration, and applications for company registration must be sent directly to the CAC. The Companies and Allied Matters Act 2020 (CAMA) provide the CAC with its authority and powers.
The CAC-accredited agent portal or an individual portal created solely for the purpose of registration now handle all company registration processes online.
REQUIREMENTS FOR A COMPANY’S REGISTRATION IN NIGERIA The following are the requirements for a company’s registration with the CAC:
The company’s proposed name (two names should be provided).
Incorporation Certificate of the company appointed as a shareholder (only applicable if another company will be appointed as a shareholder) Signatures sample of the directors and shareholders Details of the Secretary (Secretary can be an individual or a company) Name and Address RC number of the Secretary (where it is a company) a copy of his or her means of identification (e.g. International passport or National Identity Card or Voter’s Card or Driver’s License) Phone numbers, Email addresses, and Signatures on plain
It is vital to pay heed that the arrangement of a secretary is presently not required for nearby and little organizations.
The company’s authorized share capital This will be determined by the services the company plans to provide in Nigeria. It is essential to note that certain Nigerian businesses must meet a certain share capital threshold.
If the new company will have multiple shareholders, the shareholding formula, or the percentage of each shareholder’s stake in the business.
Requirements For Registering A Company In Nigeria
STEPS INVOLVED IN THE REGISTRATION OF A COMPANY
Name Search
The applicant will submit the two proposed company names to the CAC portal for availability searches. Objectives of the company (i.e., the business the company intends to conduct in Nigeria) In relation to the name search, an official fee will be paid to CAC.
Where both of the names is accessible, an endorsement notice will be shipped off to the candidate by CAC containing the supported name and an access code that will be expected for the enlistment.
Registration
The following are the steps for registering a company:
The CAC portal is accessed by the applicant or accredited agent.
The following sections are completed by the applicant:
There is an option to skip this step. Shareholders detail Persons with significant control (PSC) of the authorized share capital details An accredited agent’s details Upload of necessary documents The applicant then proceeds to pay the CAC official fee and the Stamp duty fee. Company details Objects of the company (the activities the company intends to carry out) Authorized share capital (the sharing percentage for each shareholder if they would be more than one shareholder) Witness details Directors details Secretary details
The registration application is submitted after the required fees have been paid, and it remains pending until the CAC either approves it or questions it.
Requirements For Registering A Company In Nigeria
The Certificate of Incorporation, Status Report, Memorandum, and Articles of Association are all issued as soft copies by the CAC upon registration.
It is essential to note that the CAC Certificate of Incorporation now includes a Tax Identification Number, which can be used to file taxes with the Federal Inland Revenue Service (FIRS) on behalf of the business.
At long last, every one of the prerequisites for organization enrollment can be submitted to an authorized specialist or straightforwardly to CAC on the web. In Nigeria, the incorporation procedure can now be completed without the need to physically submit any documents.
The purpose of this article is to provide a general overview of the topic. You should seek expert advice regarding your particular circumstances.
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